The Government of the Nigerian state of Ono is set to establish a multi-billion Naira state-of-the-art glass plant. The new facility will replace the moribund Oluwa Glass Co in the Ilaje area, which was liquidated. Chief of Staff to state governor, Mr.F.Agagu said that the new factory would be private sector-driven. He said the factory had run up huge debts. "Government which has the majority shares in the firm lost interest because of its huge indebtedness. He pointed out that the amount required to revive the place was about NGN 3BN, which could establish 2 additional factories, adding that the furnace at Oluwa had broken down & the company owes workers NGN 1.6BN."Instead of committing billions into rehabilitating the furnace & payment of debt, the government would prefer to establish a new glass factory, divorced of any encumbrances.
